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and negotiations are about deficit reduction. president obama thinks they're about fairness. most americans, solid majority, want to see taxes raised on those upper income americans, even though only 19% think it will have much of an impact on deficits. it's not about the fiscal crisis. it's about fairness in the minds of most americans. president obama understands that and republicans don't. >> is that because in your polling day, i always thought that people favored spending reduction and favored smaller government. this may be a mistake that the gop has not emphasized spending cuts. >> they certainly do. most people -- two out of three people want to see a deal that includes both tax hikes and spending cuts. they want to see more spending cuts, but they don't expect spending cuts to come out of this no matter what happens. in fact, the one thing that most people in the middle class believe is that regardless of whether we go over the fiscal cliff or whether a deal is reached to avert that, middle class taxes are going up, and so is spending. so there's a lot of cynicism in this process. >> real
on the fiscal cliff. geithner is president obama's lead negotiator in the budget talks. he'll first meet with harry reid at 10:00 followed by john boehner, eric cantor and paul ryan. geithner will lunch with mitch mcconnell and then he'll meet with house minority leader nancy pelosi. president obama is signaling he's flexible on where tax rate shoes go if the wealthiest americans. return to clinton era tax rates would have house holds playing between 36% to nearly 40%. the president met with a group of ceos wednesday. they offered support for resolving the fiscal cliff crisis with a proposal that includes higher taxes for those who make more than a quarter million dollars a year. >> at this point both sides have acknowledged that there is going to be revenue concessions and there will be entitlement concessions. in fact if you listen to it, again, i'm not a master of the political art here, but i would say if you have these point of views in the business context as close as they are, i would say a deal would be in reach. >> interesting. bill ford jr. agrees with blankfein saying he's con
counter punch? >> absolutely. one of the reasons president obama's come into these negotiations from what he believes is a position of strength is because he's looking at polls that show that the majority of americans will blame a gop-held house of representatives if we do indeed go off a fiscal cliff. so he's coming into this with basically a list of demands without making any concessions. >> he'll be blamed historically. if he has a second recession on his watch, the history will be written that he presided over two recessions. that's why i refer to him as herbert hoover. [ overlapping speakers ] >> he can't play that game. he can bluff but he can't play that game. >> it's not a bluff. this is not a bluff. >> you think he would take a second recession? >> well, a second recession? >> if all the tax cuts are repealed. all of them. we're going into recession. that's why the congressional budget office said. you think he would risk a second recession that would destroy his second term? >> i think he understands the law of the land today is that everybody gets a tax increase. he's trying to
? >> it is interesting if you look at the negotiations that president obama offered this massive tax increase with no concessions and this sort of outrageous request on the debt limit which was a really aggressive first offer. and then the republican s countered with a moderate reasonable plan exactly modeled after a proposal by erskine bowles. so if you're trying to handicap the negotiations, you'd have to concede that dana is on to something. >> really. so -- >> at least like the starting point. so basically the starting point for the republicans is what president obama probably would have viewed as a victory if they had the negotiation. >> yeah, he wanted another 400 supposed supposedly. how does simpson-bowles get to -- how does it raise revenue? what's the number that it raises? >> well, it depends because they have a bunch of different simpson-bowles plans. like in the bowles-simpson report, there are three different tax plans and then the thing that the republicans modeled after was something that bowles said in a hearing. >> it's interesting when you look at what these plans are laid
be a diplomat negotiating with heads of state? i don't see it. >> i think obama has to be stuck here, that he is threatening to exile the queen of american fashion. going to be completely disrupted, take out anna win tour. no regime change. >> breaking news on netflix and disney. >> netflix shares popping now on an announcement that netflix and walt disney studios announced a multiyear deal to make netflix the exclusive u.s. subscription tv service for first-run live action and animated features from the walt disney studios a big deal, netflix secured similar deals with other smaller studios, like dream works animation. disney is certainly the biggest deal of its kind, the first major studio to come on board for netflix for this kind of deal. this is going to start with its 2016 theatrically released feature films and also a big deal because disney was part of a starz deal that expired with netflix this year, shows those disney films, key for the family demographic, getting back on netflix. clearly, must be good for netflix -- for disney, otherwise they wouldn't have signed this deal. talked
evening, everyone. i'm larry kudlow. this is "the kudlow report." the talks are back on. team obama and team boehner are back at the negotiating table. but there is still substantial disagreement on tax rates, tax revenues, domestic spending and entitlement reform and the clock is ticking. speaking of tax hikes, europe's grand experiment with taxing the rich more is falling apart, especially in france and britain. and here at home, california and new york are passing through the 50% tax rate barrier. is anybody looking at how tax hikes fail the test of economic growth? >>> back here in the u.s., could it be michigan which used to call itself the worker's paradise union state is now moving towards new anti-union right-to-work legislation and it looks like it's going to pass? but first up, budget talks resume between speaker john boehner and president obama today. with just 25 days to go, let's keep tabs on where we stand. reports of a conservative backlash against speaker boehner simply not true. he has the solid support of his leadership and the rank and file. but there is concern a
the way obama started here at all. i mean, there were two ways to start the negotiations. one was did you ever see into guys like haggle over something and one guy says a dollar and the other guy says 1,000. and that's where they seem to have started. he could have started at 500 and then the republicans could have said maybe 100. but he started this thing, he put his foot forward like you know what, i'm willing to play this to the bitter end. this wasn't a thing that said let's get it done quickly. he sent geithner over. he used geithner's political capital which i think was a mistake for geithner. >> he's leaving. >> but it's like using -- >> going back to goldman. >> where he started. >> where he cut his teeth. >> like using a pitcher because you don't care about his arm at the end of the season. so you threw him out there and you send him over with -- and you also let the republicans characterize the plan. which from a pr standpoint i don't think was that smart. so i think they blew that one. but ultimately it strikes knee obama did not suggest, you know whark what, i want to get it d
will continue to negotiate ways to avoid the year end fiscal cliff. and president obama's also meeting with a group of u.s. governors at around 10:00 a.m. eastern. the bipartisan group includes delaware governor jack mar account kell, mary fallon, scott walker. they will discuss possible solutions to the fiscal cliff and how it will impact their states. the group also expected to meet with house republicans later this week. and oracle is the latest amongst the group of companies to speed up dividend payments as a means of avoiding possible tax hikes for investors because of the fiscal cliff discussions. the company will pay difference tends fors next three quarters totaling 18 cents a share. the ceo didn't take part in the decision but will benefit. he owns 23% stake, that means he'll get around $198 million. pretty good. daniel, what is the share buy back dividend play at the moment, how strong an impact wheth will it have? >> long term probably not a whole lot. it highlights even in general if we think we'll avoid the fiscal cliff, people do appreciate that some taxes will have to go
negotiations appear to be going nowhere. today president obama will meet with members of the business round table. plus, on the economic calendar, the november adp report on employment is due at 8:15 eastern. u.s. equity futures at this hour are indicated higher. not much happened yesterday. it's wednesday, december 5th, 2012, and "squawk box" begins right now.
ahead, of course, live coverage of president obama's remarks on the fiscal cliff and the negotiations before the business roundtable. we'll bring that to you live in just a few minutes. [ male announcer ] citi turns 200 this year. in that time there've been some good days. and some difficult ones. but, through it all, we've persevered, supporting some of the biggest ideas in modern history. so why should our anniversary matter to you? because for 200 years, we've been helping ideas move from ambition to achievement. and the next great idea could be yours. ♪ >>> with the internet streaming space, hey, there melissa, we're looking at netflix bouncing around based on comments from the chief content cipher but the stock took a bit of a hit when he said that netflix has to plans to cover the costs of the disney deal. nevertheless causing the stock to come off the best levels of the day. back to you, carl. >>> the president is about to speak in front of the business roundtable. good morning, john. >> good morning, carl. he's talking to the business roundtable. you can expect him to highli
, and then on everybody else. >> it does feel like there is some negotiating going on behind the scenes here. we are told that president obama and speaker john boehner on the republican side of the capitol had a conference call yesterday about 20, 28 minutes in length. we don't know what was said. that's probably a good sign they are not leaking the contents of that call. that's a sign that there is some negotiation going on. something is happening behind the scenes but we just don't know what it is right now. back to you. >> eamon javers, thank you very much. >>> what can be done to break the stalemate in washington? representative jack kingston is a republican from georgia, member of the house appropriations committee. welcome, congressman. good to have you with us. >> thank you, tyler. >> we had the images yesterday of congress leaving for a long weekend. i have to say that it struck an awful lot of us as very poor sort of pr, very bad optics, if you want to use that term. you're still there in washington. why? and what do you think about the fact that congress went home? >> well, i'm actually doing s
of this negotiation. >> eamon javers, thank you. >>> john harwood has the latest on mr. obama's big meeting with some of those ceos. john? >> the other way the ceos are in the middle of this is the president appeared before the business roundtable today as part of his effort to continue rounding up support from various constituencies for what he calls a balanced approach. one of the things he pressed was a priority that the head of the business roundtable, john eng r engler, has suggested which is a longer term fix to the debt ceiling problem. remember that it was a catastrophic standoff in mid 2011 that caused the downgrade in u.s. credit. president said he's simply not going to negotiate in the negotiating process that results in the same kind of stand-off. here is the president. >> if congress in any way suggests that they're going to tie negotiations to debt ceiling votes and take us to the brink of default once again as part of a budget negotiation? which, by the way, we have never done in our history until we did it last year. i will not play that game because we've got to break that habit bef
where it comes from. barack obama has been specific in his plan and look both sides have their plans and there's going to be negotiation, will probably end up somewhere in between. i don't understand why we can't raise tax rates on the top 1% of people if we're going to get to a balanced plan. why should the middle class pay more when we have people at the top who can pay more. >> okay. your experience as cbo director and elsewhere. the argument is being made that capping deductions whatever 25,000, 50,000, is that where the itemized deductions are, it's the upper end people who will pay for that, and that produces revenues without damaging the economic incentives, the economic growth effect of tax rate incentives. now i want to ask you, objectively, is it possible that it will affect the upper end income people without affecting the tax rate. >> you can get there. the president's budget has $600 billion raised that way. what's frustrating about this is the republicans could have gone back with a specified plan. they knew that was a nonstarter. they did what the president asked. they
's the right guy to be sitting in that room doing negotiating. >> they have tried the boehner/obama dynamic before. the lessons from that weren't universally positive. >> you have to keep at it. that's what the american people expect of everybody in washington to sit down and work together and work this thing out and not use other people to be your spokesperson and trying to work out negotiation. the president needs to be here in washington, d.c. in the conference room working out this problem. that's what he was elected to do. >> clearly he will be in pennsylvania and watching that as well. congressman, thank you for your time. >> thank you for having me. appreciate it. >> congressman jim gerlach. >>> coming up next, rick santelli is champing at the bit today so we moved up santelli exchange an hour earlier. don't miss his take on costco. >> we have an exclusive interview with goldman sachs chief u.s. equity strategist david kostin. he thinks the market will rise 12% next year. he'll give you his five best investment ideas. stay with us. if you are one of the millions of men who have used
and will also lead to incremental job creation. >> negotiations continue on the fiscal cliff. obama appeared yesterday to raise prospect that some sort of modification on the deduction for interest payments could be put on the table. there are many people within the housing industry that go screaming around like headless chickens at the prospect of that. do you think it would have a huge impact if it came through? >> the biggest single risk that could derail the housing recovery. we're in the second or third innings out of nine. anything that flexes downward deductibility of interest expense for home mortgages is potentially catastrophic threat to the recovery. >> really? do you think that in the toll brothers space that whether or not people get a check for $10,000 is going to affect whether they purchase a house? >> what we're really talking about here, simon, is the incremental buyer on the margin. it's a question of do we have buyers? yes. are the number of buyers increasing? something which takes $10,000 out of your pocket will make you less likely to buy a house. it will have a negativ
the president's plan. i've done enough negotiations in business to understand who is negotiating in good faith wlorks is moving the goal posts. i think it's time right now for president obama to show the american people his full balanced plan. we haven't seen it. democrats haven't passed a budget in over three years. there's not one democrat that has voted for a plan yet. until republicans see the plan from the president, from democrats, it's very difficult for us to be compromising if anything. right now we're just negotiating with ourselves. that's really a pretty bad negotiating strategy. we should stop doing that, we should be talking about not playing brinkmanship. what we should do is extend all the current rates permanently. that would return certainty to the economy. it would restore confidence. and that's probably the biggest thing we need to do to grow our economy. let's quit having these fiscal cliffs. and let's not be threatening government shut downs. let's sit down in a good faith effort and that's what president obama is not doing. he's back on the campaign trail which will is u
and president obama speaking on the phone last night about the fiscal cliff. there still seems to be a freeze in the negotiation. >> there's nothing going on privately that's not going on the publicly. >> they've got to come with some specific revenue. they have refused to do that. >> we need that consensual break through. >> although the president seems obsessed on raising taxes for you. >> that is a bad strategy for america, it's a bad strategy for your businesses and it is not a game that i will play. >> is the administration prepared too go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the wealthiest 2%. remember it's only 2%. >> with just 25 days to go, the political satandoff could cost the u.s. millions of jobs. professor, good to have you back, good morning. >> good to be here, thanks. >> good read in the journal yesterday from you and if anybody needed to worry about this more, you invoke carter, you're talking about 1980. kind of scenarios if in fact we go over the cliff? >> yes, i can't stop thinking about
Search Results 0 to 16 of about 17